ACT Energy Technologies (TSE:ACX) Reaches New 1-Year High – Should You Buy?

ACT Energy Technologies Ltd. (TSE:ACX)’s share price reached a new 52-week high on Monday . The stock traded as high as C$7.68 and last traded at C$7.69, with a volume of 813482 shares changing hands. The stock had previously closed at C$7.37.

Analysts Set New Price Targets

Separately, ATB Cormark Capital Markets upped their target price on shares of ACT Energy Technologies from C$9.25 to C$9.50 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$9.67.

ACT Energy Technologies Stock Performance

The stock has a market capitalization of C$303.28 million, a P/E ratio of 11.21 and a beta of 0.09. The firm has a 50-day moving average price of C$6.33 and a 200 day moving average price of C$6.56.

ACT Energy Technologies (TSE:ACX) last issued its earnings results on Friday, August 7th. The company reported C$0.06 earnings per share (EPS) for the quarter. The firm had revenue of C$178.47 million during the quarter.

About ACT Energy Technologies

ACT Energy Technologies Ltd., headquartered in Calgary, Alberta, operates in Canada under the brand ‘Altitude Energy Partners’, and in the United States under the brands ‘Altitude Energy Partners’, ‘Discovery Downhole Services’, ‘Rime Downhole Technologies’ and ‘Stryker Directional’. ACT’s common shares trade on the Toronto Stock Exchange under the symbol ‘ACX’. ACT provides high-performance directional drilling services and downhole technologies to North American energy companies, delivering tailored solutions that improve drilling efficiency and reduce project costs.